US-Iran Conflict Volatile, Formosa Plastics Expects Q2 Petrochemical Prices to Remain High
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Despite reports of attempts to de-escalate tensions between the US and Iran, Formosa Plastics Group anticipates that petrochemical product prices will remain high in the second quarter, as Middle Eastern refining and petrochemical plants are unlikely to resume normal production quickly. Taiwan's four major petrochemical companies expect improved performance in Q2, with Nan Ya specifically noting increased demand for electronic materials driven by AI.